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Across the country, rising mortgage rates have led to a dramatic downturn in home purchases, and even high-end buyers appear to be pulling back as the economy faces an uncertain future.
But Manhattan’s luxury market has shown some resilience, with at least eight homes in the borough closing for $20 million or more last month. The Real Deal analyzed city records to rank the priciest residential closings recorded in Manhattan last month, and found that the top 10 deals combined for $258.4 million.
That was down $23.9 million from August, when the top 10 sales combined for $282.3 million — primarily driven by two huge deals on Billionaires’ Row — but developers still managed to make a splash in September, with three sponsor condominiums closing for $26 million or more.
The top deal, however, was for a townhouse at 8 East 62nd Street in Lenox Hill, which sold for $48 million, records show.
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Developer Keith Rubenstein of Somerset Partners finally sold the 15,000-square-foot limestone mansion six years after listing it for $84.5 million in 2016. Rubenstein, whose firm invests mainly in office and multifamily assets across the U.S., bought the home in 2007 for $35 million. Adam Modlin of Modlin Group had the listing.
At Related Companies’ 35 Hudson Yards, listing agents Cathy Franklin and Leighton Candler of Corcoran sold a 10,000-square-foot penthouse for $35 million — a 41 percent discount from what the developer sought for the unit, but still good enough for September’s second-priciest closing.
The condo, which comprises the tower’s entire 90th floor, served as the fictional home of media scion Kendall Roy on HBO’s “Succession.”
At third and fourth on the list were two more sponsor condo units, both of which eclipsed the $25 million mark. Developers Property Markets Group, JDS Development Group and Spruce Capital Partners found a buyer for unit 59 at Billionaires’ Row’s 111 West 57th Street, which went for $26.3 million. And developer Alchemy Properties sold unit 15A at 378 West End Avenue on the Upper West Side for $25.9 million. Alexa Lambert and Marc Achilles of Compass represented Alchemy.
Rounding out the top five was an off-market deal for a pre-war co-op at 912 Fifth Avenue on the Upper East Side, which sold for $22.5 million, according to records.
Some other notable closings included 9 Jay Street, a 6,300 square-foot Tribeca townhouse built in 1907, which fashion designer Zoran Ladicorbic sold for $20 million after first listing it for $50 million in 2016.
The property comes with one truly unique amenity: a sky bridge that connects it to a separate 2,300-square-foot condo at 67 Hudson Street, which was also reportedly included in the sale.
Kaptan Unugur of Sotheby’s International Realty had the listing, while Clayton Orrigo of Compass’ Hudson Advisory Team represented the buyer.